I noticed this happen with my credit card recently as well. I think it’s a combo of falling interest rates and a better score. If you have had this card for a while, you probably have a good history with it.

Your interest rate is probably tied to the Fed rate. As it goes up or down, so does your rate.

It’s most likely the commercial banks lowering prime rate 2.50% over the last several months and change. Most credit card rates are tied to prime, and that falls when the fed funds rate are lowered.

Either way, your interest rate is still way too high if you’re carrying a balance. Call the credit card issuer and ask them to lower it if you’re currently paying finance charges.

Interesting case… I heard on Public Radio that the banks and creditors had no obligation of reducing the interests to their customers due to the FED change but some were considering that option… maybe you got lucky here.

Rates automatically decreasing (just because you are paying in time) without a phone call? I can tell you this never happened to me:-(

thye probably found out about the other debts being paid off and they decided you were a lower credit rist and then they lowered it.